Noah (NYSE:NOAH) Shares Gap Down – Should You Sell?

by · The Cerbat Gem

Noah Holdings Limited (NYSE:NOAH – Get Free Report)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $8.92, but opened at $8.39. Noah shares last traded at $8.60, with a volume of 29,124 shares changing hands.

Analyst Ratings Changes

NOAH has been the subject of several analyst reports. StockNews.com lowered shares of Noah from a “buy” rating to a “hold” rating in a research report on Thursday, March 20th. UBS Group reaffirmed a “neutral” rating and issued a $11.50 price target on shares of Noah in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. raised Noah from a “neutral” rating to an “overweight” rating and set a $11.50 price objective for the company in a research note on Wednesday, April 9th.

Check Out Our Latest Stock Analysis on NOAH

Noah Price Performance

The stock has a market capitalization of $557.61 million, a PE ratio of 7.22 and a beta of 0.78. The company has a 50 day moving average price of $10.36 and a 200-day moving average price of $11.36.

Noah (NYSE:NOAH – Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The asset manager reported $0.26 earnings per share (EPS) for the quarter. Noah had a net margin of 23.53% and a return on equity of 6.43%. The company had revenue of $89.31 million during the quarter, compared to analyst estimates of $102.07 million. As a group, equities analysts anticipate that Noah Holdings Limited will post 0.93 earnings per share for the current year.

Hedge Funds Weigh In On Noah

Several hedge funds and other institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new stake in Noah during the first quarter valued at about $354,000. Public Employees Retirement System of Ohio lifted its stake in shares of Noah by 18.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager’s stock valued at $223,000 after purchasing an additional 2,930 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of Noah in the fourth quarter valued at $454,000. Cubist Systematic Strategies LLC purchased a new position in shares of Noah during the fourth quarter valued at approximately $52,000. Finally, Bank of America Corp DE lifted its position in shares of Noah by 1,066.6% during the fourth quarter. Bank of America Corp DE now owns 83,902 shares of the asset manager’s stock worth $982,000 after purchasing an additional 76,710 shares during the last quarter. 42.67% of the stock is owned by institutional investors.

About Noah

(Get Free Report)

Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. It operates through three segments: Wealth Management, Asset Management, and Other Services.

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